Dealroom – US Tech Update, 1Q 2024

In the first quarter of 2024, over $44.5 billion was invested in US startups, marking a significant increase from the previous quarters. This VC investment was higher than most of the six previous quarters, and only slightly below the record-breaking Q1 of 2023, which included major rounds for companies like OpenAI and Stripe. The level of venture capital investment in the US is surpassing levels seen in 2019 and 2020. Nearly 1,000 rounds of $2 million or more were raised by US startups in Q1 2024, demonstrating a high level of activity in the VC space. Early-stage VC investment has remained stable, while late-stage investment is at its highest. Enterprise software is the most funded startup sector in the US in 2024, with a focus on AI-driven technologies. Generative AI and Oncology are the most funded frontier tech segments in the US in 2024. Overall, VC activity in the US tech sector is robust and showing positive growth trends.